Arbor Closes $38M in 4 Fannie Mae Loans in North and South Carolina, Texas and Connecticut

  $15,742,500 Fannie Mae DUS® Loan Closed for Stone Ridge Apartments in Fayetteville, NC

UNIONDALE,  NY (Feb.  9, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $15,742,500 loan under the Fannie Mae DUS® product line for the 216-unit complex known as Stone Ridge Apartments in Fayetteville, NC.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.74 percent.

The loan was originated by John Edwards, (top right photo)  Vice President, in Arbor’s full-service Boston, MA lending office.

“The loan represented a great opportunity for Arbor to provide financing for a newly constructed stabilized property,” said Edwards. “We provided our client with their requested objective of an attractive 10-year interest rate with loan proceeds exceeding $15.7 million.

" In addition, we greatly appreciate the efforts of Jackson Howard of Carolina Mortgage Company in securing this financing.”

$14,500,000 Fannie Mae DUS® Loan Closed for Overlook at Golden Hills Apartments in Lexington, SC

Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $14,500,000 loan under the Fannie Mae DUS® product line for the 204-unit complex known as Overlook at Golden Hills Apartments in Lexington, SC.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.82 percent.

The loan was originated by Ronen Abergel, (middle  left photo) Director, in Arbor’s full-service New York, NY lending office.

“Despite the current lending environment, we encountered significant competition for this transaction,” said Abergel. “We won the deal by providing the most attractive rate, term and structure for the borrower.”

$6,846,790 Fannie Mae DUS® Loan Closed for Carlisle on the Creek in Dallas, TX

 Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $6,846,790 loan under the Fannie Mae DUS® product line for the 176-unit complex known as Carlisle on the Creek in Dallas, TX.

The 7-year loan amortizes on a 30-year schedule and carries a note rate of 5.55 percent.

The loan was originated by Anthony Tarter, (middle right photo) Director, in Arbor’s full-service Dallas, TX lending office. “Arbor was pleased to provide acquisition financing, including additional funds for capital improvements, for a great borrower and property in the Dallas Uptown market,” said Tarter.


$1,260,000 Fannie Mae DUS® Small Loan Closed for Carriage Hills Apartments in New Haven, CT

Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,260,000 loan under the Fannie Mae DUS® Small Loan product line for the 22-unit complex known as Carriage Hills Apartments in New Haven, CT.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.02 percent.

The loan was originated by John Edwards, Vice President, in Arbor’s full-service Boston, MA lending office.

 “We were pleased with the opportunity to provide a repeat client new financing for a solid performing asset,” said Edwards. “The closing of this transaction highlights our commitment to maintaining long-term business relationships.

Additionally, Fred Vogell of Mortgage Resources acted as the loan correspondent.”

Contact:  Ingrid Principe, Marketing, Arbor Commercial Mortgage, 333 Earle Ovington Blvd., Suite 900, Uniondale, NY 11553, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1